SEC, 13 July 2008
“August 1973 I started on Wall Street in Block Trading for Bache. Worked in all Major firms through the years.Traveled all over the world.
From $6 Billion per day Fails to deliver is now Over $13 1/2 billion per day.
There is More Naked Short shares in the market than there is Outstanding Shares.
We have allowed our Clearing systems to be Gamed, to the point where they are able to manipulate markets.”